It鈥檚 safe to say we鈥檙e all, for the most part, trying to make good decisions, even though #adulting can be a struggle. But when it comes to your career, there鈥檚 more to it than just staying focused during the holidays and slaying as a first-time manager. Even though it鈥檚 looking like the gender wage gap will聽close in 2069 (ahh!!! Deep breath), the little known gender investing gap is something you can take action on RN. Below, Sallie Krawcheck, CEO and co-founder of Ellevest, a digital financial advisor for women, is sharing five tips to help ladies invest smarter and save hundreds of thousands or 鈥 wait for it 鈥 MILLIONS over our lives.

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1. Don鈥檛 underestimate the costs of waiting to invest. For a lot of us, investing can be a scary idea, which leads us to waiting for the exact right time to give it a go. We say we鈥檒l invest when the market is quieter or wait until we get that long-deserved raise or 鈥 the worst excuse we鈥檝e been know to use 鈥 we鈥檙e just too busy. But Sallie says that鈥檚 costing us 鈥 big time.

鈥淲hen we wait, we miss out on the returns that the market has historically earned, even considering market volatility,鈥 she explains. 鈥淔or example, say you鈥檙e making $85,000 a year, saving 20 percent of your salary and putting it in the bank instead of investing it. Waiting five years to invest costs you more than $170,000 when it鈥檚 time to retire. Wait 10 years, and you鈥檙e down more than $337,000. Put another way, that cost of waiting is nearly $100 a day. What would you do if $100 fell out of your purse every day? You wouldn鈥檛 wait until you had time to fix it. You would fix it right away.鈥

2. Look for THREE main things in an investment firm. Repeat after us: low cost, transparency and a fiduciary. 鈥淔irst question to ask: Is the firm you鈥檙e considering a fiduciary? This is important because a fiduciary is required to place your interests ahead of its own. Sounds good, right?鈥 asks Sallie. To which we say, uh, yes!

鈥淔rom there, look for an investment firm with low fees. Ellevest recommends to avoid paying more than 0.75 percent in management fees and to be wary of advisers who recommend investments with high fees. Find a firm that will be transparent on fees, so there鈥檚 no guesswork on how much it will cost you. And remember: Cheaper isn鈥檛 always better. Be sure to ask what you鈥檙e getting for the fees you are paying,鈥 suggests Sallie. It doesn鈥檛 get better than this checklist if you鈥檙e choosing an investment firm.

3. Write your goals down and invest toward them. Do you want to start your own business someday? Own a home? Awesome. You鈥檙e going to need to make an action plan to achieve your goals. Sallie says, 鈥淩esearch indicates that your chances of meeting a goal increase if you just write it down. Those chances increase even more if you put aside money to invest for them. This list can also be motivation to invest if you鈥檙e imagining opening your amazing business in a few years!鈥

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4. Make investing a good habit. We brush our teeth every night, follow a solid skincare routine and fit in our daily steps. Sallie says you should think about investing in the same way. She advises, 鈥淚nvest regularly, whether it鈥檚 with every paycheck or every week, month or quarter.鈥 The simplest way to do that? 鈥淢ake it a part of your routine by setting up a recurring deposit,鈥 she says. 鈥淭his works well for a few reasons. One is that once this habit is in place, you won鈥檛 even miss that money. Another is that this type of habit means you won鈥檛 be tempted to try to 鈥榯ime鈥 the market, by thinking that if it鈥檚 expensive now, you should hold back from investing or when it鈥檚 cheap, you should invest more. Even professionals don鈥檛 do this well. By making it habit, you鈥檒l save yourself a lot of heartache 鈥 and likely get better returns.鈥

5. Don鈥檛 look at your investments too often. 鈥淗ave you read those articles about investing mistakes people make? The ones that talk about over-trading, falling in love with the 鈥榳inners鈥 and panicking in market downturns?鈥 asks Sallie. Well, according to her, those tend to be the mistakes men make in investing. And those mistakes can be driven by checking how your investments are doing, and then checking again and again.

She adds, 鈥淲omen historically have been better investors than men. This is in part because we adopt a longer-term outlook when investing and don鈥檛 react to every shift in the market. So give your investment portfolio a good once-over every quarter, but avoid looking at it on a daily or weekly basis.鈥 Can we just repeat our fave part? Women are historically better investors than men. That鈥檚 all.

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